Will this approach work for avoiding II FX fees?

ringo747

I've a collection of US-based shares that have been building up which I've totally overlooked for CGT. I'm trying to gradually reduce this CGT liability by selling off, and reinvesting cash into ISA to make the most of the 20k allowance. 

II was fine for ISA and GIA accounts until I realised the FX fees.

My plan would be transfer out the stocks to someone like 212 or IB, sell at lower fees, then transfer the cash back to II. Any reason why that wouldn't work? It's more or less to use some account for the USD to GBP sales, but not keeping anything active in that platform thereafter until the next year allocation of CGT exemption is available.

Any benefit for 212 over IBKR?

masonic

You could do this if the providers support stock transfers between unwrapped accounts. Once you transfer out, is there any compelling reason to transfer back to II?

ringo747

Sounds good - will check that out. X-fer back to II is to fill up ISA allowances with myself and spouse (existing investments are there).